Starwood Hotels & Resorts launches 10th hotel brand
The Tribute Portfolio will focus on four-star hotels and will complement Starwood’s The Luxury Collection brand.
Starwood expects to have 100 Tribute Portfolio hotels by 2020, with initial growth concentrated in Europe and North America.
The brand made its debut this week with the first hotel, the Royal Palm South Beach Miami, and will open ten sites in the USA and global market in the first year.
“We believe Tribute Portfolio will be an exciting solution for hotel owners of distinct properties who wish to maintain their independent spirit, yet benefit from Starwood’s powerful distribution, loyalty and sales platforms,” said Adam Aron, Starwood’s chief executive officer.
According to a recent survey of Starwood's loyalty programme members, 89 per cent said they are interested in staying in independent hotels, particularly for leisure travel. Nearly 70 per cent of members said they had already stayed at an un-branded hotel, representing a strong opportunity for the company.
"Sixty per cent of four star hotels globally are not affiliated with a brand flag. This provides Starwood with a vast landscape to grow Tribute Portfolio," said Dave Marr, senior vice president of brand management, north America and global brand leader for Tribute Portfolio.
Properties will be located in high-demand destinations and where Starwood has little or no footprint.
Starwood operates hotels in the UK including Sheraton, Meridien, W and the Luxury Collection.
